C2FO, the world’s market for working capital®, applauds the increased commitment of major companies to help strengthen the working capital health of their suppliers. C2FO is an innovative, supplier-focused program used by Walgreens, Costco, Toys “R” Us, and others to improve supplier liquidity through accelerated payment. Walgreens is one of the companies who have stepped forward to advocate the importance of supplier financial health by supporting the White House’s ongoing SupplierPay initiative to improve the working capital health of small and medium-sized businesses.
C2FO is one of the fastest growing financial solutions in the world, allowing buyers and suppliers to use the market to increase profit and accelerate cash flow between themselves. A significant point of distinction for suppliers is the ability to set their own price for early payment, which has helped C2FO to a world-class NPS score of 60 and a supplier recommendation rate of 91 percent. In the second quarter of 2014 C2FO delivered over 11 million days of early payment to market members in countries around the globe.
Suppliers find C2FO advantageous because they are able to access early payment from multiple customers across the entire network of the C2FO Market. Additionally, companies receiving early payment are then able to use C2FO to deliver increased liquidity to their own suppliers, further strengthening the overall financial health of the supply chain.
“More and more companies are working to provide healthy, affordable access to liquidity for their suppliers,” said Sandy Kemper, CEO and Founder. “C2FO provides a holistic solution to working capital management that benefits both the buyer and the supplier and we look forward to more companies joining the C2FO Market.”
“We are proud that since 2011 we have used C2FO to provide our suppliers with early payment,” said Dan Morrell, Assistant Treasurer at Walgreens. “There are over 1,000 suppliers enrolled in the program and we have delivered more than $1.1 billion in early payment to them. We see additional suppliers coming onto the platform monthly and will continue to offer our suppliers a source of working capital through The C2FO Market.”